Radioimmunoassay Market Opportunity Analysis 2018-2026

Radioimmunoassay market is projected to witness significant growth over the forecast period, owing to rising prevalence of various infectious diseases and cancer.

Radioimmunoassay (RIA) is one of the most frequently used in-vitro assay techniques to measure the concentration of antigens in blood. The principle on which radioimmunoassay based on competitive binding assay. In this technique, antibody and antigen bind to one another and the amount of bound antigen is measured using radioimmunoassay. This method is hypersensitive in nature and can measure even the smallest amount of hormone or drug level with the help of antibodies. Immunoassays play a significant role in the analysis of various clinical laboratory analytes such as nucleic acid, hormones, proteins, and drugs. The development of assays with much more sensitivity will lead to the discovery of new biomarkers for diagnosis of diseases.

Over the years, the importance of radioimmunoassay in the field of medical diagnostics has increased due to various factors such as specificity of results, accuracy, sensitivity, and precision. The three main factors involved in radioimmunoassay include bound antigen, a radio labelled antigen, and a pure antigen, along with a separation unit to estimate the delivery of radioactivity in free and bound antigens. Radioimmunoassay methods are used in several fields of disease diagnosis such as in early detection and diagnosis of cancer, other chronic diseases, and diagnosis of neurodegenerative disorders. In biotechnology and pharmaceutical industry, radioimmunoassay is used for drug testing.

On the basis of region, radioimmunoassay market is segmented into North America, Europe, Latin America, Asia Pacific, Middle East, and Africa. North America holds dominant position in the market, owing to rising adoption of technologically advanced devices, awareness among the people, high infection rates, better medical facilities, and rising adoption of innovative products. Moreover, government support towards the infection-free states is also increasing growth of radioimmunoassay market. For instance, according to 2015 National Ambulatory Medical Care survey, 16.8 million number of visits to physician offices for infectious and parasitic diseases were recorded.

Asia Pacific is expected to witness significant growth in the market over the forecast period, owing to large number of population vulnerable to various chronic diseases and increasing healthcare research activities.